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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obvious negative influence on the market, decelerating the “positive” movement of the other dry bulker segments. Although average freight rates have improved considerably compared to average levels of Q3, they are still well below expectations built up before the last quarter. It is clear by now that this bitter taste will usher us into the New Year as well. Under the current freight environment and with rates looking unable to bounce back up for longer periods, it seems that investment interest is scaling back currently.
In the New Building sector, the very strong 2013 in terms of orders and the equally strong beginning of this year as well, originally allowed Shipbuilders to become more relaxed as their slots were fully booked for 2015 and the 1st half of 2016. As the last quarter of 2014 is nearing to its end, the lack of demand for securing new slots and the increasing number of non-effective orders has changed sentiment dramatically though, pushing yards to become more accommodating in their price expectations and even offer substantial discounts in certain cases. As a matter of fact, Top Chinese shipyards are currently willing to offer Ultramax and Kamsarmax slots at USD 27.0m and USD 29.0m respectively, but even prices like that are considered too expensive to attract the attention of owners who could be considering a newbuilding order. In the same spirit, resale candidates are also facing lack of interest as the current freight market is not tempting enough for an owner to pay the premium.
At the same time, the downward correction of demolition prices during the past weeks by more than $50/$60 per long ton, has had an immediate effect on older assets, although given the highs demo prices reached this year, even after such corrections, the current levels of $430/$440 per long ton, offered in the Indian sub-Continent for dry bulk units are still relatively attractive. Therefore vessels built up to 1995 are currently in the market for scrap related prices, with small differentiations relative to their size, SS/DD position and delivery place. Tonnages built within the first decade of 2000 enjoy the most interest, while at the same time these vessels present heavily corrected prices, which are comparable to 2012 levels.
The softening of Japan’s currency has simultaneously brought additional sale candidates in the market, with buyers concentrating in modern Japanese built tonnage with the view that a quick profit could be locked by what looks like another mini-cycle in terms of asset values. As evidenced by the table above table, vessels prices are very close to bottom levels reached back in the December 2012 – January 2013 period, while the freight market has been fairing at better levels compared to that period, possibly implying opportunities to be found in the second-hand market.
By Konstantinos Kontomichis, SnP Broker, Intermodal
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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Showing 3386 to 3390 news of total 6871 |
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- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- The University of Queensland
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
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